Invesco Perpetual Select Trust’s manager Bob Yerbury will be giving up his position, Financial Times reports. The trust will now be managed by Invesco’s Atlanta-based Global Strategies team.

The move is part of broader changes and overhauling of the portfolio, with the firm eyeing a 3.5 percent dividend yield. It is also looking at giving up the trust's fund-of-hedge-funds strategy in favor of a long-only equity strategy.

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